News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bearish
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Mixed
Gold
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.30% Gold: -0.33% Silver: -0.92% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/lEALo4Z1M9
  • The S&P 500 breakdown is testing the first major zone of support and we’re looking for a reaction. Get your S&P500 technical analysis from @MBForex here:https://t.co/JrTNmQ5c7g https://t.co/D79T1134P9
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.29%, while traders in EUR/GBP are at opposite extremes with 65.04%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/lzTHuIgzFQ
  • US Equities Update (Friday Close): $DJI +1.34% $SPX +1.60% $NDX +2.34% $RUT +1.59% $VIX -7.93%
  • Another turbulent week for the Pound with the currency falling 1.6% against the greenback. Get your $GBPUSD market update from @JMcQueenFX here:https://t.co/WjU4oYpmf7 https://t.co/hkow2om7I6
  • Heads Up:🇺🇸 Fed Williams Speech due at 19:10 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-09-25
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.07% Gold: -0.16% Silver: -0.37% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/hbSoMksZVd
  • With South Africa recently easing restrictions in an effort to reopen the economy, investors are still wary about the future of the emerging market. Get your $USDZAR market update from @Tams707 here:https://t.co/f5Jmukipg0 https://t.co/o5Dyok2O99
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.38%, while traders in EUR/GBP are at opposite extremes with 65.19%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/eO8yAFDUvh
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: US 500: 1.06% Wall Street: 0.73% France 40: 0.65% Germany 30: 0.59% FTSE 100: 0.37% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/UFnW7j9LC3
Chinese Stocks Surge Again, Taking Others With Them, ASX Lags

Chinese Stocks Surge Again, Taking Others With Them, ASX Lags

2018-10-22 05:00:00
David Cottle, Analyst
Share:

Asian Stocks Talking Points:

  • The Shanghai Composite surged by more than 4% as its close approached
  • Most other bourses came up with it
  • The US Dollar gained on European rivals

Find out what retail foreign exchange investors make of your favorite currency’s chances right now at the DailyFX Sentiment Page

Chinese stocks had leaped by more than 4% by their afternoon on Monday, with the Shanghai Composite index on course for its best day since March 2016.

Investors there were reportedly still cheering the market-supportive commentary, which came from a broad cross-section of Chinese officials in the wake of official growth figures which missed forecasts. Shanghai’s vigor was enough to see Asian stocks higher generally –with the Nikkei 225 up 0.5%- although Australia’s ASX failed to share in the good times.

Politics seems to be weighing that index down. A crucial by-election in the affluent Sydney suburb of Wentworth at the weekend produced a big swing against the ruling Liberal Party which will now lose its parliamentary majority.

Current Prime Minister Scott Morrison only assumed office in August and is himself the sixth PM in just eleven years. That’s a pretty high turnover and speculation has now risen that the next election will produce yet another change. There has to be a vote by May, 2019.

The ASX 200 seems to have settled into a broad daily chart range trade but, having ceded the psychologically crucial 6,000 point earlier this month, is looking rather precarious.

Chinese Stocks Surge Again, Taking Others With Them, ASX Lags

For the moment support in the 5829 region looks safe enough, but the weekly and monthly closing levels to come could offer important clues to the uncommitted.

The US Dollar was higher against both the Euro and Sterling in Asia. Brexit wrangling continues to dog both currencies with the Euro also beset by worries over Italy’s budget, which has drawn heavy criticism from other Eurozone members.

Gold prices held up despite the vigor of Asia Pacific stock markets, with plenty of global uncertainties in play to support the oldest haven. Still, DailyFX Senior Currency Strategist Ilya Spivak cautioned that the current chart setup may not be favorable to the bulls.

Crude oil prices were steady, reportedly as a rising US production-rig count weighed against sanctions against major producer Iran.

The coming session is very light in terms of economic data on tap out of either Europe or North America, with no first-tier numbers or speakers to come.

Resources for Traders

Whether you’re new to trading or an old hand DailyFX has plenty of resources to help you. There’s our trading sentiment indicator which shows you live how IG clients are positioned right now. We also hold educational and analytical webinars and offer trading guides, with one specifically aimed at those new to foreign exchange markets. There’s also a Bitcoin guide. Be sure to make the most of them all. They were written by our seasoned trading experts and they’re all free.

--- Written by David Cottle, DailyFX Research

Follow David on Twitter @DavidCottleFX or use the Comments section below to get in touch!

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES